Vita Coco (NASDAQ:COCO) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of Vita Coco (NASDAQ:COCO) from a hold rating to a sell rating in a research report released on Saturday morning.

Other analysts have also recently issued research reports about the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Vita Coco in a research note on Friday, March 27th. Wells Fargo & Company lifted their price objective on shares of Vita Coco from $50.00 to $63.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. Zacks Research cut shares of Vita Coco from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Evercore reiterated an “outperform” rating and issued a $70.00 price objective on shares of Vita Coco in a research note on Thursday, March 12th. Finally, Morgan Stanley lifted their price objective on shares of Vita Coco from $49.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Monday, February 23rd. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $59.86.

Vita Coco Price Performance

Shares of NASDAQ COCO opened at $49.53 on Friday. The stock’s fifty day moving average price is $54.42 and its two-hundred day moving average price is $50.14. Vita Coco has a one year low of $26.42 and a one year high of $61.39. The firm has a market cap of $2.83 billion, a price-to-earnings ratio of 41.97, a P/E/G ratio of 1.52 and a beta of 0.47.

Vita Coco (NASDAQ:COCO) last announced its earnings results on Wednesday, February 18th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). Vita Coco had a net margin of 11.70% and a return on equity of 23.19%. The business had revenue of $127.79 million during the quarter, compared to the consensus estimate of $117.80 million. During the same period in the previous year, the firm posted $0.06 EPS. The company’s revenue was up .4% compared to the same quarter last year. On average, equities analysts anticipate that Vita Coco will post 1.07 earnings per share for the current fiscal year.

Insider Activity

In other news, CMO Jane Prior sold 50,000 shares of the company’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $52.92, for a total transaction of $2,646,000.00. Following the completion of the sale, the chief marketing officer directly owned 127,399 shares in the company, valued at approximately $6,741,955.08. This represents a 28.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Jonathan Burth sold 60,000 shares of the company’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $58.65, for a total value of $3,519,000.00. Following the sale, the chief operating officer owned 57,910 shares of the company’s stock, valued at approximately $3,396,421.50. The trade was a 50.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 192,800 shares of company stock worth $10,801,686. 32.30% of the stock is owned by insiders.

Institutional Trading of Vita Coco

A number of institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC lifted its position in shares of Vita Coco by 25.0% during the 4th quarter. GAMMA Investing LLC now owns 1,134 shares of the company’s stock valued at $60,000 after acquiring an additional 227 shares during the period. CWM LLC lifted its position in shares of Vita Coco by 18.2% during the 4th quarter. CWM LLC now owns 1,505 shares of the company’s stock valued at $80,000 after acquiring an additional 232 shares during the period. Mariner LLC lifted its position in shares of Vita Coco by 2.8% during the 3rd quarter. Mariner LLC now owns 8,742 shares of the company’s stock valued at $371,000 after acquiring an additional 236 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of Vita Coco by 0.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 33,541 shares of the company’s stock worth $1,424,000 after buying an additional 298 shares during the last quarter. Finally, Schroder Investment Management Group boosted its stake in Vita Coco by 3.2% in the second quarter. Schroder Investment Management Group now owns 12,041 shares of the company’s stock valued at $435,000 after buying an additional 376 shares in the last quarter. 88.49% of the stock is currently owned by institutional investors.

Vita Coco Company Profile

Vita Coco, Inc (NASDAQ: COCO) is a global beverage company specializing in coconut-based products. Founded in 2004 by Michael Kirban and Ira Liran, the company pioneered the introduction of refrigerated coconut water to U.S. consumers. Headquartered in New York City, Vita Coco sources coconuts from growers in tropical regions such as the Philippines, Indonesia and Brazil, partnering with local farmers to promote sustainable agriculture and community development.

The company’s flagship offering, Vita Coco Original Coconut Water, is available in multiple pack sizes and a variety of flavors.